Capital One Rewards Checking $300 Bank Bonus

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Capital One currently has a $300 bank bonus available for opening a new Capital One Rewards checking account.

A $50 minimum opening deposit is required. Here are some details on the bank deal:

Direct deposit must be set up on a recurring basis and is subject to your employer or other payor offering the direct deposit option

A payroll/direct deposit transaction must post to your account within 90 days of account opening

Tax refunds are not considered an eligible direct deposit to receive this incentive

You will receive a $300 credit to your checking account approximately 6-8 weeks after the end of the promotion and the first recurring payroll/direct deposit is posted to your account

This offer is strictly nontransferable

Limit one payroll/direct deposit incentive offer per customer

A quick review of the Capital One Rewards checking account:

Free checking with no monthly service fees, and no minimum balance nor direct deposit required.

Transfer rewards to other Capital One accounts, including business, friends and family

We’ll also throw in 5,000 bonus miles for opening an account and using direct deposit

Account holders will receive a one-time bonus of 4,000 miles when the first direct deposit transaction posts to the checking account. Account holder will receive 1,000 miles on the first rewards membership anniversary with us if at least one debit card purchase is made during the first membership year. This bonus will be applied to the rewards balance within 60 days following the rewards membership anniversary date.

Some Capital One branches may require you to bring in the actual promotional mailer, but if you print out that page and show it to your banker it says “Simply visit your local Capital One Bank branch to get started – be sure to MENTION code RC3? and there is no mention of the mailer.

If you are an existing Capital One Rewards checking account customer, you can quickly call Capital One at (800) 655-2265 and ask them to convert your rewards checking account into a free checking account, thereby qualifying you for the promotion.

Capital One Bank has local branches in Connecticut, Louisiana, New York, New Jersey and Texas.